Steel Strips Wheels receives huge order from VW Argentina

17 October 2016

Steel Strips Wheels has received huge order from Volkswagen Argentina which is expected to give an additional earning of around Rs 4 crore to the company.

The company informed the Bombay Stock Exchange, on Friday, that Volkswagen Argentina has done an upward revision of order to 34,000 units from erstwhile 7,000 units. The Indian component maker is to begin the delivery of these wheels from October 16 to March 2017, from its Chennai plant.

It further said that this increase in exports order is due to higher proliferation of the steel wheels usage per vehicle at Volkswagen’s plant in Argentina and is expected to prevail in future.

Source – ET